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PAYCO

Country: South Korea (KR)  |  Payment Rail: e_wallet

DigitalWallet Market Adoption: 50%

PAYCO is NHN's major Korean digital wallet and payment gateway, offering Payco Points rewards, merchant acquiring, and automated subscription billing.

🔄 User Payment Flow

  1. Customer selects PAYCO at merchant checkout
  2. Checkout opens PAYCO app or displays PAYCO authentication screen
  3. Customer selects payment source (PAYCO Points, credit card, or bank account) and enters 6-digit PAYCO password
  4. PAYCO clears payment and redirects customer back to merchant website

⚙️ Characteristics & Settlement

Instant PaymentYES
Supports QRYES
Supports RecurringYES
Supports RefundYES

🛠️ Merchant Integration Steps

  • Merchant calls payment creation API for PAYCO session token
  • PSP issues payment token and PAYCO redirect URL
  • PSP receives PAYCO clearing callback and updates merchant order status